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ABC Inc. entered into a four-year lease of equipment for $9,000 a year, payable at the beginning of each year. The lessor required ABC to guarantee that the equipment would be worth $6,000 at the end of the lease. If ABC's incremental borrowing rate is 14 percent and the lessor's implicit interest rate, which Rosemary is aware of, is 10 percent, ABC should record an asset on its books of what amount? Prepare the journal entry.
antonio inc. has a fiscal year ending april 30. on may 1 2012 antonio borrowed 10402000 at 11 to finance construction
the bakery produces tea cakes. it uses a process costing system. in march its beginning inventory was 450 units which
Which of the following is not characteristic of a corporation? a) The financial loss that a stockholder may suffer from owning stock in a public company is limited. b) Cash dividends paid by a corporation are deductible as expenses by the corporation..
1.Determine the total compensation cost pertaining to the options. 2.Prepare the appropriate journal entry(if any)to record the award of options on January 1,2009.
A supplies account has a balance of $810 at the beginning of the year and was debited during the year for $1,950, If $650 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year woul..
belant company budgeted 200000 units for june 210000 for july and 300000 for august. each unit requires 0.25 direct
compute trend percentages for the following items taken fromthe financial statements over a five year period. treat
division a manufactures electronic circuit boards. the boards can be sold either to division b of the same company or
vintech company is planning to produce 2400 units of product in 2011. each unit requires 4 pounds of materials at 8 per
auditing standards prohibit the auditor from issuing a report if not independent. an interresting situation can arise
on january 1 2009 jumper co. acquired all of the common stock of cable corp. for 540000. annual amortization associated
Write an accounting equation, and record the effects of each accounting event under the appropriate general ledger account headings and prepare an income statement for the 2009 accounting period and a balance sheet at the end of 2009 for Ruff Compa..
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